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Pensions: the system should not force us to stand alone

Social saving

By Andy Davis   November 2018

Photo: Gareth Fuller/PA Wire/PA Images

“No man is an island entire of itself,” wrote John Donne. Four centuries on, he might have included women, but the sentiment holds. We are inter-dependent—our fortunes intertwined—which makes the pension system we’ve built since the 1980s disturbing. The drift has been towards individuals taking their chances with a personal pension pot. It is as if we were financial islands cut off from one another.

That’s why proposals being jointly pushed by Royal Mail and the Communication Workers Union, to create a new kind of…

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